SWEDEN: Axfood posts rise in nine-month profit
By: just-food.com | 21 October 2009
Swedish retailer Axfood posted a rise in profit after tax this morning (21 October), for the first nine months of 2009.
Profit after tax for the period reached SEK593m (US$86m) from SEK538m in the previous year. Earnings per share were SEK11.30 compared to SEK10.26 in the first nine months of 2008.
Consolidated sales for the period amounted to SEK23.9m, an increase of 1.8% on the prior year.
Operating profit also increased to SEK838m compared to SEK800m in the prior year.
Retail sales for group-owned stores rose 3% during the period. Like-for-like sales rose 1%.
Axfood said its goal for 2009 is to achieve an operating profit of at least SEK1bn.
In August Axfood appointed Markus Lönnroth as the new president of PrisXtra.
Sectors: Retail
Companies: Axfood
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